BSI Companies, Inc. Acquires Hewitt Coleman & Associates

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Benefit Source, Inc. (BSI Companies) is pleased to announce that it has acquired Hewitt Coleman & Associates (HCA), a leading third party administrator in Greenville, SC. The transaction includes the group health, workers’ compensation, property, casualty and liability business units which will be integrated into BSI Companies.

Also located in Greenville, SC, BSI Companies has extensive experience working with nontraditional employers in areas such as prevailing wage, hourly benefit plan administration, Taft Hartley benefit plans, claims management, VEBA trust management, multiple employer medical and retirement plan administration.

Hewitt Coleman & Associates has been a fixture in the southeast providing exemplary client service and innovative claims administration solutions for corporate and municipal clients since 1923.

“This is a landmark day for BSI Companies. We are excited to have the opportunity to bring broader insurance solutions, new technology, and new service standards to all of the Hewitt Coleman clients while bringing the strength of the HCA team to our organization.” said Bob Harling, CEO of BSI Companies. “Combining the talent from two complementary organizations will help create an exceptional team with leadership in employee benefits, risk management and claims administration. Our clients are going to see clear benefits, not the least being greater flexibility that comes with an expanded base of expertise.”

BSI Companies offers a broad range of insurance products and related services.  Additionally, they offer a variety of risk management, third-party administration, retirement plans, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, BSI Companies is strategically poised for the future.

Beau Harling, VP of BSI Companies stated, “We are delighted to acquire such a high quality business that fits perfectly with our growth strategy and that will firmly establish our leadership position in providing innovative insurance solutions to clients on a national basis. It is an important step in our mission to become the leader in the industry. We look forward to welcoming the Hewitt Coleman team into the BSI Companies family.”

“We are impressed with how BSI Companies maintains the same family atmosphere and professional, personal service that has always been our mission,” said Charles Warne, CEO of Hewitt Coleman.  “Becoming part of the BSI team will provide our loyal clients and dedicated staff additional resources and new exciting options that we otherwise would not be able to offer.”

ABOUT BSI COMPANIES

Since the 1980’s, Benefit Source, Inc. (BSI Companies) has been consulting, designing, and implementing specialized benefits packages for organizations requiring more than the traditional services a health insurance broker or third party administrator provides. We design bona fide health, retirement, and supplemental benefit plans for employers nationwide. Client needs are managed from implementation throughout the life of the plans, including all reporting needs to satisfy the employer’s specialized workforce.

In 2006, BSI formed Specialized Contract Administrators (SCA), a third party administrator, to broaden their client service offerings. SCA services include hourly contribution benefit plans, bill reconciliation, claims payment, enrollment, hour banking, compliance, COBRA, workers’ compensation, Bona Fide Trust Administration and HRA plan administration.

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